Indonesian shipping firm PT Trada Maritime (IDX: TRAM) plans to hold a 5-to-1 reverse stock split next month in order to increase the company’s liquidity in the stock market awaiting approval of their shareholders on Aug. 5, according to the statement. The reverse stock split is scheduled for Aug. 26. Trada Maritime has appointed PT Jasa Utama Capital to acquire shares that are less than one lot after the reverse stock split at Rp61 per share. The composition of TRAM’s shareholders will remain unchanged after the reverse stock split. Aside from the reserve stock split, the company is planning to increase its base capital to 3.89 trillion rupiah ($291 million). Trada Maritime’s number of floating shares currently stands at 9.7 billion — valued at 973 billion rupiah. After the reverse stock split Trada Maritime would have 1.9 billion shares - GlobeAsia
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